"Mark Russo, Senior Director, Head of Industrial Research, North America, shares his views"

"The pandemic put the importance of a stable supply of semiconductors to modern economies in stark relief. Additionally, as geo-political tensions have risen and threatened global supply chains, most developed economies have introduced policies aiming to bolster their domestic semiconductor production"

"The link between manufacturing activity and demand in the industrial and logistics market is well-explored and self-evident. As long-term demand for manufactured goods rises, manufacturing occupiers will expand their real estate footprints to increase capacity"

"It is challenging to give an accurate estimate of the occupational footprint of the industry in terms of logistics..."

"In conclusion, the potential growth of the semiconductor sector could become a not-insubstantial tailwind for the logistics real estate market and broader economy"

"New build take-up accounted for 81% of the market as operational efficiencies and ESG increase in importance"

"Vacancy rate at 6.99%, yet still just 0.83 years’ of supply given past take-up"

"Vacancy rose to 6.10% yet is set to fall to 4.86% as under-offers complete"

"Vacancy at 6.17%, remaining below peak of 9.6% in 2019"